While staff claims representatives may have a variety of titles, the role is typically
defined by two things: having a primary focus on claims and
A. Having at least five years of claims experience.
B. Being an employee of the insurer.
C. Being an outsourced contractor of the insurer.
D. A focus on inside claims.
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B. Being an employee of the insurer.
Entice a reasonable demand
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, To expedite an acceptable settlement, the claims rep can begin the
negotiation by asking the attorney or public adjuster what fair settlement
value would settle the case that day. For example, if the claims rep's
settlement range is $4,000 to $6,500 and an attorney demands $6,500 to
settle the claim that day, the rep can agree to settle the claim rather than
waste time starting at the low end of the range.
The allegations contained in a summons and complaint typically serve four purposes:
To give notice, reveal facts, formulate legal causes of action and
A. Specify a delivery method for the response.
B. State the damages sought.
C. Identify the opposing attorney(s).
D. Suggest an out-of-court settlement.
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B. State the damages sought.
The allegations contained in a summons and complaint typically give
notice, reveal facts, formulate legal causes of action and state the damages
sought.
Larissa is an auto claim adjuster. Traditionally, she has relied on police reports and
witness testimony in her decision making. Recent technological developments give
her access to the driver's driving habits, including acceleration, speed, and braking.
This data available to Larissa is known as
A. Telematics.
B. Artificial Intelligence
C. Wearables.
D. Internet of Things.
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, A. Telematics.
Excess Liability Claims
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- The insurer refuses the opportunity to settle within policy limits
- The insurer refuses to pursue settlement
- The insurer is subject to strict liability
Antonia has a general liability policy with a self-insured retention of $50,000. The
policy has an occurrence limit of $250,000 and an aggregate limit of $500,000. She
had submitted one prior claim this policy term for which $100,000 was paid by the
insurer. How much will Antonia's insurer pay on a subsequent claim under the same
policy period that is valued at $400,000?
A. $200,000
B. $250,000
C. $400,000
D. $500,000
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B. $250,000
After the SIR limit had been reached, the insurer was obligated to pay up to
the occurrence limit.
Time settlements effectively
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Sometimes, the best time to settle is just before the claim proceeds to
litigation. Once a claim becomes a lawsuit, the attorney must invest more
time in the claim. Even though a higher settlement—and attorney's fee—may
result from the litigation, from the attorney's perspective, the prospect of a
slightly higher settlement may not be worth the potentially significant
amount of extra time he or she has to invest in the case.
Alva works for an international, multi-line insurer. She helps her company to manage
risk selection by working with other underwriters and coordinating decisions about
products, pricing, and guidelines. Alva is a
A. Staff underwriter.
B. Master underwriter.
C. Chief Underwriting Officer
D. Line underwriter.
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A. Staff underwriter
Staff underwriter. This describes the duties of a staff underwriter. Line
underwriter. This describes the duties of a line underwriter, rather than a
staff underwriter. There is not enough information to determine which line
of business is being written. A public underwriter does not exist. Line
underwriters evaluate new submissions and perform renewal underwriting,
usually by working directly with insurance producers and applicants. Staff
underwriters, meanwhile, manage risk selection by working with line
underwriters and coordinating decisions about products, pricing and
guidelines.
Generally speaking, the most common application of predictive modeling in
insurance occurs in
defined by two things: having a primary focus on claims and
A. Having at least five years of claims experience.
B. Being an employee of the insurer.
C. Being an outsourced contractor of the insurer.
D. A focus on inside claims.
Give this one a try later!
B. Being an employee of the insurer.
Entice a reasonable demand
Give this one a try later!
, To expedite an acceptable settlement, the claims rep can begin the
negotiation by asking the attorney or public adjuster what fair settlement
value would settle the case that day. For example, if the claims rep's
settlement range is $4,000 to $6,500 and an attorney demands $6,500 to
settle the claim that day, the rep can agree to settle the claim rather than
waste time starting at the low end of the range.
The allegations contained in a summons and complaint typically serve four purposes:
To give notice, reveal facts, formulate legal causes of action and
A. Specify a delivery method for the response.
B. State the damages sought.
C. Identify the opposing attorney(s).
D. Suggest an out-of-court settlement.
Give this one a try later!
B. State the damages sought.
The allegations contained in a summons and complaint typically give
notice, reveal facts, formulate legal causes of action and state the damages
sought.
Larissa is an auto claim adjuster. Traditionally, she has relied on police reports and
witness testimony in her decision making. Recent technological developments give
her access to the driver's driving habits, including acceleration, speed, and braking.
This data available to Larissa is known as
A. Telematics.
B. Artificial Intelligence
C. Wearables.
D. Internet of Things.
Give this one a try later!
, A. Telematics.
Excess Liability Claims
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- The insurer refuses the opportunity to settle within policy limits
- The insurer refuses to pursue settlement
- The insurer is subject to strict liability
Antonia has a general liability policy with a self-insured retention of $50,000. The
policy has an occurrence limit of $250,000 and an aggregate limit of $500,000. She
had submitted one prior claim this policy term for which $100,000 was paid by the
insurer. How much will Antonia's insurer pay on a subsequent claim under the same
policy period that is valued at $400,000?
A. $200,000
B. $250,000
C. $400,000
D. $500,000
Give this one a try later!
B. $250,000
After the SIR limit had been reached, the insurer was obligated to pay up to
the occurrence limit.
Time settlements effectively
, Give this one a try later!
Sometimes, the best time to settle is just before the claim proceeds to
litigation. Once a claim becomes a lawsuit, the attorney must invest more
time in the claim. Even though a higher settlement—and attorney's fee—may
result from the litigation, from the attorney's perspective, the prospect of a
slightly higher settlement may not be worth the potentially significant
amount of extra time he or she has to invest in the case.
Alva works for an international, multi-line insurer. She helps her company to manage
risk selection by working with other underwriters and coordinating decisions about
products, pricing, and guidelines. Alva is a
A. Staff underwriter.
B. Master underwriter.
C. Chief Underwriting Officer
D. Line underwriter.
Give this one a try later!
A. Staff underwriter
Staff underwriter. This describes the duties of a staff underwriter. Line
underwriter. This describes the duties of a line underwriter, rather than a
staff underwriter. There is not enough information to determine which line
of business is being written. A public underwriter does not exist. Line
underwriters evaluate new submissions and perform renewal underwriting,
usually by working directly with insurance producers and applicants. Staff
underwriters, meanwhile, manage risk selection by working with line
underwriters and coordinating decisions about products, pricing and
guidelines.
Generally speaking, the most common application of predictive modeling in
insurance occurs in
